San Diego, CA -- (SBWIRE) -- 08/07/2012 -- An investigation on behalf of investors of Halozyme Therapeutics, Inc. (NASDAQ:HALO) shares over potential securities laws violations by Halozyme Therapeutics, Inc. and certain of its directors and in connection with certain statements was announced.
Investors who purchased shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Halozyme Therapeutics, Inc. (NASDAQ:HALO) concerning whether a series of statements by Halozyme Therapeutics, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Halozyme Therapeutics, Inc. reported that its annual Revenue rose from $8.76million in 2008 to $56.09million in 2011 and its Net Loss of $48.65million in 2008 decreased to a Net Loss of $19.77million in 2011.
In September 2007, Halozyme Therapeutics, Inc. and Baxter International Inc entered into an Enhanze Technology partnership, or the Gammagard Partnership. Under the terms of this partnership, Baxter International Inc obtained a worldwide, exclusive license to develop and commercialize product combinations of rHuPH20 with GAMMAGARD LIQUID, or HyQ. In the second quarter of 2011 Baxter International Inc filed for regulatory approval of HyQ in the US and in September 2011 Baxter International Inc announced that it had submitted an application to the European Medicines Agency’s Committee for Human Medicinal products seeking marketing approval for HyQ.
Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) rose from as low as $3.00 per share in December 2008 to as high as $12.76 per share on March 30, 2012.
In April 2012, Baxter International Inc. (NYSE: BAX) and Halozyme Therapeutics, Inc. (NASDAQ: HALO) announced that the U.S. Food and Drug Administration (FDA) is requesting additional information to complete its review of the HyQ Biologics License Application (BLA).
NASDAQ: HALO shares dropped $13.35 in March to $8.00 in April 2012.
Then on August 1, 2012, after the market closed, Halozyme Therapeutics, Inc. (NASDAQ: HALO) announced that the Center for Biologics Evaluation and Research (CBER) of the FDA has issued a complete response letter for Baxter's HyQ Biologics License Application.
Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) dropped from $8.61 per share on August 1, 2012, to $3.89 on August 2, 2012.
On August 6, 2012, NASDAQ:HALO shares closed at $4.82 per share, significantly below its current 52 week High of $13.50 per share.
Those who purchased shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) and currently hold those NASDAQ:HALO shares, may have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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